Lee Sangil Vows to Create “Yongin’s Silicon Valley” with 1 Trillion Won “Silicon Yongin Fund” Pledge

Lee Sangil, Candidate for Yongin Mayor, Announces Vision for Yongin's Leap Forward
Expansion of Yongin Industry Promotion Agency and Establishment of Incubation and Acceleration Systems
Presents Vision for AI and Semiconductor Startup City... Unveils Blueprint for a Yongin-style Silicon Valley
Selected as a 'Good Candidate' by the Citizen Voter Movement Headquarters... Also Announces Startup City Pledge
"Expansion of Cultural and Artistic Spaces"... Women's Choir Declares Support for Lee Sangil

Lee Sangil, candidate for mayor of Yongin Special City from the People Power Party, presented his vision to develop Yongin into a high-tech startup city similar to Silicon Valley in the United States. His plan includes the creation of a “Silicon Yongin Fund” worth 1 trillion won to support youth startups, along with building a startup ecosystem centered on AI and semiconductors.

Candidate Lee Sangil for Mayor of Yongin Special City (People Power Party) presented his vision on the 19th to foster Yongin as a high-tech startup city comparable to Silicon Valley in the United States. Photo provided by candidate Lee Sangil

On May 19, Lee stated, “To empower young people and create a city that attracts talented youth, I will transform Yongin into a high-tech startup city like Silicon Valley.”

He referenced San Jose and Palo Alto in California, emphasizing his goal to foster startups in AI and semiconductor sectors and to establish a foundation for stable growth of these startups, thereby expanding the overall economic scale of the city.

The core pledge is the establishment of the “Silicon Yongin Fund” with a total of 1 trillion won. Lee also announced plans to create a separate “Youth Fund” within this fund to provide initial capital for young people with innovative ideas and new technologies.

In addition, to ensure stable growth for startups, he plans to expand and reorganize the Yongin Industry Promotion Agency, and to build a top-tier incubating and accelerating system. This will be accompanied by attracting venture capital and expanding funding support systems.

During his term as the 8th popularly elected mayor of Yongin, Lee previously introduced an acceleration program at the Yongin Industry Promotion Agency last year, and in August 2024 designated the Yeongdeok Startup Support Center as a specialized center for AI and semiconductors, laying the foundation for nurturing relevant businesses.

Lee said, “To vitalize youth entrepreneurship and support the growth of startups, we are strengthening networking with local universities in Yongin, devising ways to utilize various city facilities, and supporting a range of programs at the Yongin Industry Promotion Agency.”

He added, “Following the establishment of the nation’s top semiconductor ecosystem, we will also build the best startup ecosystem so that Yongin can gain the status of ‘Korea’s Silicon Valley.’”

In particular, as part of building the startup ecosystem, the city is considering providing available space in city-owned facilities as shared offices and, if necessary, securing additional spaces.

In August 2024, Lee set the Yeongdeok Startup Support Center of the Yongin Industry Promotion Agency as a specialized center for AI and semiconductors, fostering companies engaged in AI model development and semiconductor design and manufacturing.

Lee remarked, “Cities like San Jose and Palo Alto in California are globally renowned startup cities, where young talent dreaming of new ventures gathers, and a virtuous startup ecosystem is formed with the inflow of venture capital. We will establish the best startup ecosystem following the nation’s leading semiconductor ecosystem so that Yongin can be recognized as Korea’s Silicon Valley.”

According to Lee, from 2023 to the end of March this year, there were already 751 startups or small businesses that either moved into or signed contracts to move into existing industrial complexes in the city. He believes that establishing a fund for initial investments and activating incubating and accelerating systems will further vitalize the startup ecosystem.

Targeting the government’s recent semiconductor policy, Lee also said, “The ruling party is disrupting Yongin’s well-progressing semiconductor projects and trying to move some planned semiconductor production lines (fabs) to regions where an ecosystem does not exist at all. Such divisive and fragmentary policies will not help the economy or the city grow. I will implement policies to develop both Yongin and the semiconductor industry, expand finances, and give hope to young people.”

Candidate Sangil Lee was also named among the 33 "Good Candidates" selected by the "June 3 Local Election Citizen Voter Movement Headquarters," composed of 100 experts from civil society and professional organizations on the 19th. Photo provided by Candidate Sangil Lee

Citizen Voter Movement Headquarters Selects Lee Sangil as One of the '33 Good Candidates'

Meanwhile, on this day, Lee Sangil was also named among the '33 Good Candidates' selected by the “Citizen Voter Movement Headquarters for the June 3 Local Elections,” which comprises 100 experts from civil society and professional organizations.

The Voter Movement Headquarters cited respect for the values of civic activism, a progressive conservative or rational progressive orientation, integrity and morality, and a sound philosophy regarding liberal democracy and the market economy as their evaluation criteria.

The organization assessed that during his 8th popular term, Lee laid the foundation for Yongin’s development by attracting the national advanced system semiconductor industrial complex, expanding the transportation network, enlarging educational and cultural infrastructure, and lifting regulations on the Songtan water source protection area and the Gyeongan Stream waterfront area.

A representative added that Lee’s balanced municipal philosophy based on pragmatism and reform, as well as his transparent and honest administration, were key factors in his selection as a 'Good Candidate.'

Lee expressed his gratitude, saying, “I am honored to be named a 'Good Candidate' after a rigorous evaluation process, and I will do my utmost for Yongin's leap forward with greater responsibility.”

Lee also stated, “It is an honor to be selected as a 'Good Candidate' by the 100-member committee of the Citizen Voter Movement Headquarters after a strict evaluation process. I will campaign with an even greater sense of responsibility and do my best to realize the values emphasized by the committee and lead Yongin to greater progress.”

Lee commented, “In Yongin Special City, with a population of 1.11 million, mega-scale semiconductor projects with investment amounts approaching 1,000 trillion won are underway. I question whether a candidate who is unrelated to these projects, has never properly opposed attempts to undermine 'Yongin Semiconductors,' and does not know Yongin well, can truly pioneer the future of Yongin, including semiconductors. For a city to develop, it must choose a 'Good Candidate' as its administrative leader, not an unqualified, controversial, or scandal-ridden candidate. I believe Yongin citizens will vote with this in mind.”

Meanwhile, the Voter Movement Headquarters announced plans to tour the nation from the 21st to the 28th, visiting campaign sites and election camps of the selected 'Good Candidates' to deliver certificates of recognition.

Members of the Yongin Happy Women's Choir visited the election office in Mabuk-dong, Giheung-gu on the 19th to declare their support for candidate Lee. Provided by candidate Lee Sangil

Members of Yongin Happy Women's Choir Declare Support for Lee Sangil

On the same day, members of the Yongin Happy Women's Choir visited the campaign office in Mabuk-dong, Giheung-gu to declare their support for Lee.

Min Jeongae, Deputy Director of the Yongin Happy Women's Choir, stated, “The incumbent mayor of Yongin Special City, Lee Sangil, has worked tirelessly day and night to attract semiconductor companies such as Samsung Electronics, making Yongin a city with a promising future. He has also achieved significant results by communicating with citizens for the development of local culture and the arts. We believe Lee’s re-election is necessary for the continued development of both Yongin and its cultural and artistic sectors, and the choir members have decided to support his re-election.”

Deputy Director Min added, “Yongin is a city that has grown rapidly in a short period, so its cultural and artistic infrastructure is still lacking. However, many citizens expect that Lee will deliver what they desire.”

Lee Sangil expressed his gratitude: “Thank you to the Yongin Happy Women's Choir for your support. I remodeled the Poeun Art Hall to enable high-quality performances, successfully hosted the 42nd Korea Theater Festival in Yongin, and achieved remarkable results in the cultural sector. I am grateful that you appreciated our communication and collaboration on both large and small performance stages.”

He further stated, “Citizens expect more cultural facilities. If I am re-elected for the 9th popular term, I will strive to expand cultural and artistic spaces in new towns such as Idong-eup and in the Eonnam public housing district.”

This content was produced with the assistance of AI translation services.